The Volkswagen Group, which incorporates Volkswagen, Audi, Porsche, Skoda, Seat, Cupra, and extra, reported 2,243,700 international automobile gross sales throughout the second quarter of 2024, a 3.8% decline in comparison with Q2 2023. Additionally, the primary half of the yr was adverse at 4,348,000, down 0.6%.
The corporate’s all-electric automobile gross sales not too long ago stalled, which is a worrying signal. In Q2, Volkswagen Group’s EV gross sales amounted to about 180,800, up 0.1% year-over-year. That is about 8.1% of the whole quantity, in comparison with 7.7% a yr earlier, however the development is solely because of the complete gross sales decline.
Volkswagen Group reviews challenges
Throughout the first half of the yr, Volkswagen Group’s gross sales decreased year-over-year, each by way of complete quantity and EVs. Furthermore, the corporate lowered its revenue forecast for 2024.
Let’s recall that the comparatively weak Q2 follows the decline in EV gross sales in Q1. The corporate mentions a rise in EV orders in Western Europe in H1 to round 170,000 models, up 124% year-over-year, and upcoming new mannequin launches, together with the Volkswagen ID.7 Tourer, Audi Q6 e-tron, and Porsche Macan Electrical. Nonetheless, the scenario stays difficult.
Volkswagen Group BEV gross sales in Q2’2024 (YOY change):
- Complete: 180,800 (up 0.1%) and eight.1% share
Within the first half of the yr, Volkswagen Group offered about 317,200 all-electric autos. That is 1.4% lower than a yr in the past and seven.3% of the whole automobile gross sales.
On the similar time, the group offered 136,000 plug-in hybrid autos, 17% greater than in H1 2023. New PHEV fashions with extra all-electric vary are anticipated to spice up gross sales within the second half of the yr.
Volkswagen Group BEV gross sales in Q1-Q2’2024 (YOY change):
- Complete: 317,200 (down 1.4%) and seven.3% share
For reference, in 2023, the group offered greater than 771,000 all-electric autos worldwide—35 % greater than in 2022—reaching a brand new document share of 8.3%.
We at the moment are questioning what the Volkswagen Group can do subsequent. Flat EV gross sales and declining complete outcomes don’t look properly. It is value noting that Volkswagen a minimum of delayed the ID.7 launch within the U.S., Audi Q8 e-tron manufacturing is predicted to finish, whereas the tariffs for China-made EVs in Europe will affect the plan to import the Cupra Tavascan (one other cousin of the ID.4) from China.
Europe stays Volkswagen Group’s largest EV market, accounting for greater than 60% of all gross sales, however in Q2, the quantity decreased by nearly 8% yr over yr.
Quite the opposite, gross sales elevated by 21% in China to 49,600. Within the U.S., gross sales decreased by practically 15% to 12,000.
BEV gross sales in Q2’2024 (YOY change):
- Europe: 109,700 (down 7.7%) and 60.7% share
- U.S.: 12,000 (down 14.5%)
- China: 49,600 (up 21%)
- Remainder of the world: 9,500 (up 41.2%)
- Complete: 180,800 (up 0.1%)
Concerning all-electric automobile gross sales, the Volkswagen model was the biggest one with 100,300 models offered in Q2, however solely a slight gross sales enhance of practically 6%. Porsche and Skoda have been down by 48% and 18% respectively, whereas Audi famous a 0.1% decline.
Gross sales in Q2’2024 (YOY change):
- Volkswagen (vehicles): 100,300 (up 6%)
- Audi: 41,000 (down 0.1%)
- Skoda: 15,500 (down 18%)
- Volkswagen Industrial Automobiles: 7,600 (up 11%)
- Seat/Cupra: 11,300 (up 17%)
- Porsche: *4,602 (down 48%)
- different (MAN, Volkswagen Truck & Bus, Scania, Navistar): 290 (down about 27%)
- Complete: 180,800 (up 0.1%)
* information from Porsche; different outcomes rounded to 100
By way of fashions, with none shock, the Volkswagen ID.4 (counted by the producer along with the ID.5 coupe model) and the Volkswagen ID.3 continued to be the best-selling fashions inside the group.
Choose EV mannequin gross sales (for which information can be found) in Q1-Q2’2024:
- Volkswagen ID.4/ID.5 – 86,800
- Volkswagen ID.3 – 66,200
- Audi This fall e-tron (incl. Sportback) – 52,100
- Skoda Enyaq iV (incl. Coupé) – 29,400
- Cupra Born – 18,200
- Audi Q8 e-tron (incl. Sportback) – 17,900
- Volkswagen ID. Buzz (incl. Cargo) – 14,600
- Porsche Taycan (all variations) – *8,838
different fashions – about 23,162 - Complete: 317,200 (down 1.4%)
* information from Porsche; different outcomes rounded to 100
A number of the fashions are very comparable and supplied by totally different manufacturers. We will distinguish two predominant teams, which have a dominant share within the total outcome when counted collectively:
- MEB-based hatchbacks: 84,400 (27% of all BEVs)
Volkswagen ID.3 and Cupra Born - MEB-based crossover/SUVs: 168,300 (53% of all BEVs)
Volkswagen ID.4/ID.5, Audi This fall e-tron (incl. Sportback) and Skoda Enyaq iV (incl. Coupé) - all different fashions mixed: 64,500 (20% of all BEVs)
In different phrases, simply 20% of the group’s EVs aren’t clones of the ID.3 or ID.4.
In 2024, the Volkswagen Group intends to launch a number of new all-electric fashions, together with the Volkswagen ID.7 Tourer (an property model of the ID.7) and the Volkswagen ID. Buzz with an extended wheelbase (LWB), Cupra Tavascan (one other cousin of the ID.4), and the 2 first fashions based mostly on the all-new Premium Platform Electrical (PPE) system: the Audi Q6 e-tron and the Porsche e-Macan.
